![]() While Moscow is contemplating stimulus measures for Russia’s stagnating economy, we are looking at Russia’s other success story, its military reforms and modernization program. Russia’s international foreign exchange reserves are at $530 billion. ![]() Seeing debt as a dependency, the Kremlin has driven Russia’s net public debt-that is, external debt plus all kinds of domestic debt-to zero. In response to sanctions and attempts to isolate Russia, the Kremlin has built up a budget with a very comfortable surplus (3.7 percent of GDP). Careers, Fellowships, and Internships Open/Close.Wahba Institute for Strategic Competition.Science and Technology Innovation Program.Refugee and Forced Displacement Initiative.The Middle East and North Africa Workforce Development Initiative. ![]()
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